RADNOR, Pa.--(BUSINESS WIRE)--May 19, 2011 - PolyMedix, Inc.
(OTC BB: PYMX), a biotechnology company focused on developing new
therapeutic drugs to treat patients with acute infectious diseases
and cardiovascular disorders, announced today that its lead
defensin-mimetic antibiotic compound, PMX-30063, when administered
topically as an oral rinse, has shown activity against oral
mucositis in an animal study. Oral mucositis is a common and often
debilitating inflammation and ulceration that occurs in the mouth
as a complication of cancer treatment. PMX-30063 is currently in a
Phase 2 clinical trial to treat patients with Acute Bacterial Skin
and Skin Structure Infections caused by Staph bacteria.

“The ability of PMX-30063 to mitigate ulcerative mucositis
in pre-clinical studies is significant and exciting,”
commented Stephen T. Sonis, DMD, DMSc, Chief Medical Officer at
Biomodels where the studies were performed, and a Professor of Oral
Medicine at Harvard's School of Dental Medicine and world-renowned
expert in the clinical treatment and research of cancer related
mucosal toxicities. “Radiation and chemotherapy are
life-saving treatments for cancer patients, but the development of
extensive painful lesions in the mouth, tongue and throat renders
many patients unable to eat, speak or tolerate therapy. The results
seen with PMX-30063 are extremely promising and support further
testing as a new therapeutic agent to address this substantial
unmet medical need.”

“We continue to be excited by the breadth of therapeutic
possibilities for our defensin mimetic compounds,” commented
Nicholas Landekic, President and Chief Executive Officer of
PolyMedix. “There is a major need for effective treatment
options for the hundreds of thousands of patients per year who
develop ulcerative lesions as a result of their cancer treatment. A
recent study from Northwestern University quantified the cost of
additional resource use attributable to the management of patients
with mucositis at over $17,000 as well as lengthening hospital
stays, making this an expensive and serious medical problem. Having
the ability to potentially administer PMX-30063 topically may also
provide advantages over systemic approaches.”

PMX-30063 and other PolyMedix defensin-mimetic antibiotic
compounds were tested in an animal model of radiation induced oral
mucositis and demonstrated a significant reduction in ulcerations
after preventively dosing three times a day for twenty days. In
addition, no adverse events were noted. PolyMedix has recently
presented this data at a prestigious scientific meeting.

About PMX-30063

PolyMedix's novel antibiotic compound, PMX-30063, is a
small-molecule designed to mimic the activity of human host-defense
proteins (HDPs), the body's natural defense against bacterial
infections. HDPs kill bacteria by directly targeting bacterial
membranes and disrupting them. Widespread resistance to this unique
mechanism of action has not developed despite millions of years of
evolution. With PMX-30063 designed to mimic HDPs, we believe that
resistance is also unlikely to evolve to this novel antibiotic,
making PMX-30063 one potential solution to the growing problem of
bacterial resistance. PMX-30063 is currently in a Phase 2 clinical
trial to treat patients with Acute Bacterial Skin and Skin
Structure Infections caused by Staph bacteria.

About PolyMedix, Inc.

PolyMedix is a publicly traded biotechnology company focused on
the development of novel drugs for the treatment of serious
infectious diseases and acute cardiovascular disorders. PolyMedix
uses a rational drug design approach to create non-peptide,
small-molecule drug candidates. PolyMedix's lead antibiotic
compound, PMX-30063, is currently in a Phase 2 clinical trial for
treatment of Acute Bacterial Skin and Skin Structure Infections
(ABSSSI) caused by Staph. PMX-30063 is a small-molecule that
mimics the mechanism of action of human host defense proteins, a
mechanism that is distinct from currently approved antibiotic drugs
and is intended to make bacterial resistance unlikely to develop.
PolyMedix's lead heptagonist compound, PMX-60056, is in a Phase 2
clinical trial in patients undergoing PCI procedures. PMX-60056 is
designed to reverse the anticoagulant activity of both heparin and
low molecular weight heparins (LMWH). PolyMedix believes that
PMX-60056 could potentially be a safer and easier to use
anticoagulant reversing agent, with broader activity, than the
currently approved therapy for reversing heparin and LMWH. In
addition to its small molecule therapeutics, PolyMedix has
polymeric formulations with the same mechanism of action as
PMX-30063, PolyCides®. PolyCides are intended for
use in antimicrobial biomaterials applications as additives to
paints, plastics, and textiles to create self-sterilizing products
and surfaces. For more information, please visit our website at
www.polymedix.com.

This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 that involve risks, uncertainties and
assumptions that could cause PolyMedix's actual results and
experience to differ materially from anticipated results and
expectations expressed in these forward looking statements.
PolyMedix has in some cases identified forward-looking statements
by using words such as “anticipates,”
“believes,” “hopes,”
“estimates,” “looks,”
“expects,” “plans,” “intends,”
“goal,” “potential,” “may,”
“suggest,” and similar expressions. Among other factors
that could cause actual results to differ materially from those
expressed in forward-looking statements are PolyMedix's need for,
and the availability of, substantial capital in the future to fund
its operations and research and development, and the fact that
PolyMedix's compounds may not successfully complete pre-clinical or
clinical testing, or be granted regulatory approval to be sold and
marketed in the United States or elsewhere. A more complete
description of these risk factors is included in PolyMedix's
filings with the Securities and Exchange Commission. You should not
place undue reliance on any forward-looking statements. PolyMedix
undertakes no obligation to release publicly the results of any
revisions to any such forward-looking statements that may be made
to reflect events or circumstances after the date of this press
release or to reflect the occurrence of unanticipated events,
except as required by applicable law or regulation.

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